Daily GK Update- 18th Feb, 2022

 

NATIONAL UPDATES:

 

1. Union Minister RK Singh co-chairs 4th India-Australia Energy Dialogue: The 4th India-Australia Energy Dialogue was co-chaired by Union Minister for Power and New & Renewable Energy, RK Singh and Australian Energy and Emissions Reduction Minister Angus Taylor. Energy Transition was a major area of discussion in the dialogue and both the Energy Ministers. Energy Transition activities in their respective countries with a focus on renewables, energy efficiency, storage, EVs, critical minerals, mining etc.

The need of Climate Finance was also highlighted by India for meeting the Energy Transition goals of developing countries. Both the countries signed a Letter of Intent (LoI) for working towards reducing the cost of new and renewable energy technologies and scaling up their deployment to reduce global emissions. Apart from the power sector, there are many desirable areas of cooperation agreed under the other JWGs like reducing costs of Green Hydrogen; cooperation in the sphere of coal-based energy security and resource deployment; investment opportunities in the minerals sector; exploring the potential for an LNG Partnership, among other areas.

 

2. TERI’s World Sustainable Development Summit begins: The Prime Minister, Narendra Modi has delivered the inaugural address at The Energy and Resources Institute’s (TERI) World Sustainable Development Summit. Mr Luis Abinader, President of the Dominican Republic, Dr Mohamed Irfaan Ali, President of the Cooperative Republic of Guyana, Ms Amina J Mohammed, Deputy Secretary-General, United Nations and Union Minister Shri Bhupender Yadav were among those present on the occasion. The 21st edition of WSDS is scheduled from 16th-18th February 2022. The theme for this year’s summit is Towards a Resilient Planet: Ensuring a Sustainable and Equitable Future.

Key points of the PM Modi address:

(1) The Prime Minister recalled that Environment and sustainable development have been key focus areas for him all through his 20 years in office, first in Gujarat and now at the national level.

(2) The Prime Minister informed about the LED bulbs distribution scheme that has been running for over seven years, has helped save more than 220 billion units of electricity and 180 billion tonnes of carbon dioxide emissions per year.

(3) He encouraged academic and research institutes like TERI to come up with scalable solutions to realize the potential of green hydrogen.

 

3. Govt of India bans 54 apps of Chinese origin: The government of India has banned 54 apps of Chinese origin citing security concerns. The apps include Sea Ltd.’s marquee game Free Fire and other apps related to tech firms like Tencent, Alibaba and NetEase. The apps were banned by the Ministry of Electronics and Information Technology are re-branded versions of apps banned by India in 2020. Free Fire is often compared with PUBG. It is among the world’s most popular mobile games. Under Section 69A of the Information Technology (IT) Act, 2000 provides government power to issue directions for blocking public access of any information through any computer resource. This section allows the government to block websites.

 

4. LAHDC launched “Kunsnyom scheme” for differently abled persons: Ladakh Autonomous Hill Development Council (LAHDC), Leh has launched Kunsnyoms scheme for differently-abled persons. Kunsnyoms meant Equal for All, Fair for All, aims inclusive and accessible Ladakh. Under the new scheme, Leh Hill council is providing assistive devices, technologies to needy people at 90 per cent subsidy.

About the schemes: Launching the new scheme, LAHDC Leh Chief Executive Councillor and Chairman, Mr Tashi Gyalson and his executive councillors have handed over 28 tri scooters, battery-run wheelchairs, walking aids and other aids required for the special needs of the individuals. After becoming Union Territory, financially empowered with sufficient allocations of budget, the Hill Councils in Ladakh are utilizing the funds for welfare schemes.

Note: Ladakh (UT) Lieutenant Governor: Radha Krishna Mathur.

 

5. IAS Officer Vineet Joshi named as Chairman of CBSE: IAS Vineet Joshi has been appointed as the new Chairman of the Central Board of Secondary Education (CBSE). He replaces IAS Manoj Ahuja, who has been appointed as the Officer on Special Duty (OSD) in the Department of Agriculture and Farmers Welfare. Mr Joshi, a 1992-batch IAS officer of the Manipur cadre, is an Additional Secretary, Department of Higher Education, under the Ministry of Education. He is also the Director-General of the National Testing Agency (NTA). In 2010 as well he got the responsibility of CBSE chairman.

Note: CBSE Head Office: Delhi; CBSE Founded: 3 November 1962.

 

INTERNATIONAL UPDATES:

 

1. World Health Organisation launches Quit Tobacco App: World Health Organization (WHO) South-East Asia Region (SEAR) has launched a ‘Quit Tobacco App’. This application helps people to give up the use of tobacco in all forms, including smokeless and other newer products. The App was launched by Dr Poonam Khetrapal Singh, Regional Director, WHO-SEAR, during WHO’s year-long ‘Commit to quit’ campaign, is the latest tobacco control initiative by the WHO South-East Asia Region.

The app, the first such by WHO, and the first that targets all forms of tobacco, helps users to identify the triggers, set their targets, manage cravings, and stay focused to quit tobacco. Tobacco is the world’s leading cause of preventable death and kills nearly 8 million persons every year. It claims 1.6 million lives in the WHO South-East Asia Region which is amongst the largest producers and consumers of tobacco products.

Note: World Health Organization Headquarters: Geneva, Switzerland; World Health Organization Founded: 7 April 1948; World Health Organization Director-General: Tedros Adhanom.

 

2. GoI forms G20 Secretariat in view India’s G20 Presidency: India will hold the Presidency of the G20 from 1 December 2022 to 30 November 2023 and the G20 Summit will be held in India in 2023 (18th edition). For its preparation, the government has approved the setting up of a G20 Secretariat and its reporting structures. The G20 Secretariat will be guided by an Apex Committee headed by Prime Minister and it will have the following members:

Finance Minister: Nirmala Sitharaman,

Home Minister: Amit Shah,

External Affairs Minister: S. Jaishankar, and

G20 Sherpa: Piyush Goyal

What is the responsibility of the G20 secretariat?

The G20 secretariat will be responsible for the implementation of overall policy decisions and arrangements needed for steering India’s forthcoming G20 Presidency. In 2021, the G20 summits was held in Rome, Italy. In 2022 the G20 summit will be held in Bali, Indonesia while in 2023 it will be held in New Delhi, India.

 

OTHER UPDATES:

 

SPORTS

 

1. Chelsea wins 2021 FIFA Club World Cup Champions: English club, Chelsea has defeated Brazilian club Palmeiras, 2-1, to win the 2021 FIFA Club World Cup final. Chelsea has won the FIFA Club World Cup for the first time. The decisive goal was scored by Kai Havertz with 3 minutes of extra time to go. Kai Havertz’ nerveless 117th-minute penalty settled a gruelling Club World Cup final. The final was held at Mohammed bin Zayed Stadium, Abu Dhabi.

Key stats:

(1) Chelsea completed a full house of major trophies since Roman Abramovich took over the club in 2003: Champions League, Europa League, Super Cup, Premier League, FA Cup, League Cup and Community Shield.

(2) Chelsea became the third English team to win the Club World Cup after Manchester United and Liverpool.

 

BANKING AND FINANCE

 

1. SEBI makes provision of separation of chairperson & MD/CEO roles voluntary: Securities and Exchange Board of India (SEBI) board has decided to make provision for separation of the roles of chairperson and MD/CEO as ‘voluntary’ against ‘mandatory’ earlier. The market regulator had in June 2017 set up a committee on corporate governance under Uday Kotak with a view to seek recommendations to further enhance corporate governance norms for listed companies. One of the recommendations that the Committee came out with was the separation of the roles of chairperson and MD/CEO of listed companies. This was proposed to provide a better and more balanced governance structure by enabling more effective and objective supervision of the management. The SEBI board, in its meeting in March 2018 approved the proposal for the top 500-listed entities. Later the deadline for compliance was extended by two years in January 2020.

Note: SEBI Founded: 12 April 1992; SEBI Headquarters: Mumbai; SEBI Chairperson: Ajay Tyagi.

 

BUSINESS AND ECONOMY

 

1. MoSPI projected GDP deflator forecast for FY23 at 3-3.5%: Ministry of statistics and programme implementation (MoSPI) has projected India’s gross domestic product (GDP) deflator for FY23 at 3 to 3.5%. The Government’s own projection on real GDP growth for FY23 is at 7.6-8.1% and the union budget projected nominal GDP growth rate to be 11.1% for FY23. GDP Projection in the Budget is based on advance estimates of the ‘National Statistical Office’ (NSO). Economic Survey 2021-22 projected a real GDP growth rate of 8-8.5 per cent in FY23. RBI projected India’s real GDP growth of 7.8 per cent in FY23 and retail inflation of 4.5 per cent for FY23. The GDP deflator, or implicit price deflator, is a measure of inflation and is the difference between nominal GDP and real GDP.

 

2. Indian mining major Vedanta to manufacture semiconductors in India: The Indian mining major Vedanta has tied up with Taiwanese electronics manufacturing company, Hon Hai Technology Group (better known as Foxconn) to form a joint venture (JV) for manufacturing semiconductors in India. Anil Agarwal, the non-executive Chairman of Vedanta, will be the Chairman of the JV company. This is the first JV in the electronics manufacturing sector after the government announced a Rs 76,000 crore production-linked incentive (PLI) scheme for semiconductor and display manufacturing, to create an ecosystem of local production of semiconductors in India. Vedanta will be the majority shareholder in the JV while Foxconn will hold minority share.

Note: Foxconn Founder: Terry Gou; Foxconn Founded: 20 February 1974; Foxconn Headquarters: Tucheng District, Taipei, Taiwan.

 

OBITUARIES

 

1. Bengali singer Sandhya Mukherjee passes away: Legendary Bengali singer, Sandhya Mukherjee has passed away at the age of 90 years due to cardiac arrest. Her full name was Geetashree Sandhya Mukhopadhyay. She had recently refused to accept the Padma award from the central government that was awarded in January 2022. She told him that Padma Shree is not an award that should be conferred on a veteran like her. It would be demeaning for her to accept it.

Various Honoured she received: Mukherjee received the Banga Bibhusan, the highest civilian honour given by the Bengal government, in 2011 and the National Film Award for best female playback singer in 1970 for the movies Jay Jayanti (a Bengali remake of Sound of Music) and Nishi Padma. Nishi Padma was remade in Hindi as Amar Prem, starring Rajesh Khanna.